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Unformatted text preview: • "...final. .." o it records only the value of final goods, not intermediate goods. • ".... goods and services. .." o it includes both tangible goods and intangible services • "...Produced. .." o it includes goods and services currently produced, not transactions involving goods produced in the past • "...within a country. .." Lecture Notes Economics T-Th A. Ordonez Chapter 15 809-195-3K1C 3/11/10 o it measures the value of production within the geographical confines of a country "...in a given period of time. .." • it measures the value of production that takes place within a specific interval of time, usually a year or a quarter(3 months)...
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- Spring '10
- Economics, gross domestic product, Value added, Final goods, Lecture Notes Chapter